# ETHFI

By [andriibohdan.eth](https://paragraph.com/@andriibohdan) · 2024-04-03

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ether.fi is a liquid restaking protocol on ethereum. Their liquid restaking token, eETH, is the first native liquid restaking token on Ethereum. Stakers can mint eETH on ether.fi. When a user does this, ether.fi will then stake and restake the ETH, allowing users to maximize rewards. By minting eETH you are getting exposure to 4 types of rewards: 1) Ethereum staking rewards 2) ether.fi Loyalty Points 3) restaking rewards (including EigenLayer points) 4) ability to provide liquidity to Defi protocols.

The total value locked in Ethereum restaking protocols has jumped to $8.35 billion.

The total value locked ([TVL](https://crypto.news/tag/TVL/)) of the ether.fi project exceeded $3.2 billion. Renzo is in second place with $2 billion, while data from The Block shows that Puffer is third with TVL at $1.3 billion.

EigenLayer also saw an uptick in activity on Feb. 5, when the protocol raised $1.18 billion after the project lifted the cap on the maximum restaked assets of 200,000 Ethereum ([ETH](https://crypto.news/price/Ethereum/)). In just one day, the protocol’s TVL increased by more than $1.5 billion.

You might also like: [Crypto startup EigenLayer received $100m funding despite VC downturn](https://crypto.news/crypto-startup-eigenlayer-funding-vc-downturn/)

On Feb. 20, the restaking TVL figure was $3.5 billion; in less than two months, TVL was over 100%. The segment saw sharp growth in February and was dominated by ether.fi and Puffer, which have TVLs of $1.36 billion and $1.02 billion, respectively. Ethereum has achieved dominance in total value locked in decentralized finance ([defi](https://crypto.news/tag/defi/)) applications of 56% or $52 billion, according to DefiLlama.

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*Originally published on [andriibohdan.eth](https://paragraph.com/@andriibohdan/ethfi)*